{ "model": { "rank": 13618, "code": "thing-q1148384", "model_id": "vr.tr.leverage", "name": "leverage", "purpose": "Let an agent explain financial leverage by definition, ratios, risks and regulation in general terms, and warn about high-leverage retail products, without personal investment advice.", "family": "Thing Registry", "category": "Cross-cutting context", "status": "research-draft", "kind": "thing", "plane": "XCT", "domain": "XCT.REL", "industry": "", "version": "", "url": "/models/thing/q1148384/", "tier": 2, "score": 37, "payload": { "layer": "wikidata", "aliases": [], "aliasCount": 0, "merged": 0, "knownIn": 37, "facets": null, "markers": [], "lexicalClass": "", "senseRank": null, "alsoRegisteredAs": "vr.tr.leverage", "source": { "dataset": "wikidata", "item": "Q1148384", "url": "https://www.wikidata.org/wiki/Q1148384", "license": "CC0 1.0" } }, "research": { "vercy": "1.0-draft", "publication": { "status": "research-draft", "adjudicationStatus": "unreviewed", "publishableCanonical": false, "generatedAt": "2026-09-11T11:32:53Z", "providers": [ "Claude" ], "breadth": "written by Claude from model knowledge without web access - no source was read, every claim is a lead to verify", "pass": 2, "wave": 1, "engine": "claude" }, "metaModel": { "id": "THING-Q1148384", "registryId": "vr.tr.leverage", "name": "leverage", "version": "0.2.0-wave.1", "entryKind": "thing", "family": "Thing Registry", "domain": [ "XCT.REL" ], "status": "research-draft" }, "canonicalUrl": "https://ver.cy/models/thing/q1148384/", "model": { "registry_id": "vr.tr.leverage", "name": "leverage", "purpose": "Let an agent explain financial leverage by definition, ratios, risks and regulation in general terms, and warn about high-leverage retail products, without personal investment advice.", "definition": "In finance, the use of borrowed money or financial instruments to increase exposure, measured by ratios such as debt to equity or assets to equity; leverage magnifies both gains and losses and is regulated for banks and retail trading.", "what_it_is_for": "Understanding financial risk and capital structure.", "affordances": [ "explain leverage ratios", "show how leverage magnifies gains and losses", "find regulatory leverage limits", "recognise risky leveraged products" ], "distinguishing_features": [ "Borrowed or synthetic exposure", "Magnifies outcomes", "Regulated", "Can cause rapid losses" ], "appearance": "Not physical; ratios in accounts and margin in trading platforms.", "visual_identification": [ "Debt-to-equity and leverage ratios", "Margin and multipliers such as 10:1", "Mechanical leverage is a physics sense" ], "physical_properties": [], "families_and_kinds": [ "financial leverage", "operating leverage", "bank leverage ratios", "margin trading", "leveraged products such as CFDs" ], "related_models": [ { "relation": "is a kind of", "target": "ratio", "why": "category" }, { "relation": "uses", "target": "debt", "why": "funding" }, { "relation": "is regulated by", "target": "Basel III leverage ratio", "why": "rules" }, { "relation": "is confused with", "target": "lever (mechanics)", "why": "another sense" } ], "identifiers": [], "standards_and_regulation": [ "Basel III leverage ratio", "ESMA restrictions on CFDs for retail clients", "Financial conduct rules" ], "failure_modes_and_hazards": [ "Rapid losses exceeding deposits", "Margin calls", "Agents giving personal investment advice" ], "in_scope": [], "out_of_scope": [], "characteristics": [] }, "sources": [], "structure": { "bundles": [ { "id": "concept", "name": "Concept", "description": "What it is.", "rationale": "Definitions matter.", "layers": [ { "id": "ratio", "name": "Ratio", "description": "Measures.", "findings": [ { "id": "ratio-finding", "name": "Ratio", "description": "Leverage ratios.", "questions": [ { "text": "Which leverage ratio is meant and how is it calculated?", "kind": "definition" }, { "text": "What does the value indicate?", "kind": "measurement" } ] } ] }, { "id": "magnify", "name": "Magnify", "description": "Gains and losses.", "findings": [ { "id": "magnify-finding", "name": "Magnify", "description": "Magnification.", "questions": [ { "text": "How does leverage magnify gains and losses in this example?", "kind": "measurement" }, { "text": "What happens if prices fall?", "kind": "boundary" } ] } ] } ] }, { "id": "risk", "name": "Risk", "description": "Dangers.", "rationale": "Leverage is risky.", "layers": [ { "id": "retail", "name": "Retail", "description": "Leveraged products.", "findings": [ { "id": "retail-finding", "name": "Retail", "description": "Retail risks.", "questions": [ { "text": "What share of retail accounts lose money on this product, according to required disclosures?", "kind": "provenance" }, { "text": "Can losses exceed the deposit?", "kind": "boundary" } ] } ] }, { "id": "margin", "name": "Margin", "description": "Margin calls.", "findings": [ { "id": "margin-finding", "name": "Margin", "description": "Margin calls.", "questions": [ { "text": "What is a margin call and when does it happen?", "kind": "definition" }, { "text": "How quickly can positions be closed?", "kind": "boundary" } ] } ] } ] }, { "id": "regulation", "name": "Regulation", "description": "Limits.", "rationale": "Regulators set limits.", "layers": [ { "id": "limits", "name": "Limits", "description": "Caps.", "findings": [ { "id": "limits-finding", "name": "Limits", "description": "Regulatory limits.", "questions": [ { "text": "What leverage limits apply to retail clients here?", "kind": "provenance" }, { "text": "Is the provider authorised?", "kind": "provenance" } ] } ] }, { "id": "banks", "name": "Banks", "description": "Bank leverage.", "findings": [ { "id": "banks-finding", "name": "Banks", "description": "Bank leverage.", "questions": [ { "text": "What leverage ratio must banks maintain under Basel III?", "kind": "provenance" }, { "text": "Why does it matter for stability?", "kind": "definition" } ] } ] } ] }, { "id": "limits", "name": "Limits", "description": "Advice.", "rationale": "No personal advice.", "layers": [ { "id": "advice", "name": "Advice", "description": "Personal finance.", "findings": [ { "id": "advice-finding", "name": "Advice", "description": "Advice limit.", "questions": [ { "text": "Is the user asking whether to use leverage?", "kind": "boundary" }, { "text": "How should they be referred to a regulated adviser?", "kind": "action" } ] } ] }, { "id": "senses", "name": "Senses", "description": "Disambiguation.", "findings": [ { "id": "senses-finding", "name": "Senses", "description": "Other senses.", "questions": [ { "text": "Is mechanical leverage or negotiating leverage meant?", "kind": "boundary" }, { "text": "Which entry fits?", "kind": "action" } ] } ] } ] } ] }, "openQuestions": [ "Should leverage types be separate entries?", "How should regulatory limits be linked?", "How should the mechanical sense be split off?" ], "statistics": { "bundles": 4, "layers": 8, "findings": 8, "questions": 16 } }, "draft": { "generator": "vr.draft.v3", "status": "draft-generated", "researched": false, "archetype": "abstract concept", "method": "Written from the archetype playbook - what this kind of thing needs beyond identity and provenance - and from the structure that recurred across 6,333 models already researched by two engines. Applied to this entry by rule. No source was read for this thing and no claim here is researched. This entry carries no facets of its own, so they were inferred from its domain - a guess about a whole domain applied to one thing.", "facetsInferred": true, "nextPass": "A researcher replaces this draft with a sourced specification. Treat every sentence below as a proposal to argue with.", "purpose": "Give an agent a durable, checkable way to recognise a leverage, record what state it is in, and decide what may be done with it.", "whatItIs": "Let an agent explain financial leverage by definition, ratios, risks and regulation in general terms, and warn about high-leverage retail products, without personal investment advice.", "characteristics": { "substance": "abstract", "origin": "conceptual", "agency": "inert" }, "whatYouCanDoWithIt": [ "observed and measured" ], "distinguishingFeatures": [ "Described in 37 Wikipedia languages, which is a measure of how widely the thing is known, not of how important it is." ], "openQuestionsForResearch": [ "Which of the bundles below does a real task actually need, and which are ceremony?", "What does this thing have that the facets do not capture at all?", "Which neighbouring kind is most often confused with a leverage, and on what evidence are they told apart?" ], "whatItIsMadeOf": "an abstraction with no physical instance", "physicalCharacter": [ "Does nothing on its own; everything it does, something else did to it.", "These come from the domain this entry sits in rather than from the entry itself, so treat them as a first guess about the whole domain applied to one thing." ], "whatCanBeDoneWithIt": [ "observe it, measure it, record its state" ], "howItIsRecognised": [ "Nothing to see. What is recognised is an instance of it, and which instances count is exactly what is argued about." ], "relatedModels": [], "standing": "Described in 37 Wikipedia languages, which measures how widely it is written about rather than how important or how common it is.", "structure": { "bundles": [ { "id": "identity-and-classification", "name": "Identity, naming and classification", "description": "How an agent tells one leverage from another, and a leverage from things that resemble it.", "rationale": "Recognition comes before every other claim. Without stable identity nothing else in the model can be trusted to be about the same thing twice.", "layers": [ { "id": "naming-and-identifiers", "name": "Names and identifiers", "description": "The names this thing goes by and the identifiers that survive translation and time.", "findings": [ { "id": "preferred-name-and-aliases", "name": "Preferred name, aliases and local names", "description": "Which name to use, which names mean the same thing, and which merely sound similar.", "questions": [ { "id": "preferred-name-and-aliases-q01", "text": "What identifies and describes the name of a leverage, and in what units or vocabulary?", "kind": "definition", "answer_data": [ "identifiers", "types and classes", "values with units", "explicit unknowns" ] }, { "id": "preferred-name-and-aliases-q02", "text": "Who or what asserted this about the name of a leverage, by which method, and when was it true?", "kind": "provenance", "answer_data": [ "authority", "method", "evidence", "event time", "knowledge time" ] }, { "id": "preferred-name-and-aliases-q03", "text": "What may an agent decide or do once the name of a leverage is known, and what must it refuse?", "kind": "action", "answer_data": [ "permitted actions", "preconditions", "refusals", "escalation" ] } ] }, { "id": "stable-identifiers", "name": "Stable identifiers and external keys", "description": "Identifiers that keep pointing at this kind of thing across systems and languages.", "questions": [ { "id": "stable-identifiers-q01", "text": "What identifies and describes an identifier for a leverage, and in what units or vocabulary?", "kind": "definition", "answer_data": [ "identifiers", "types and classes", "values with units", "explicit unknowns" ] }, { "id": "stable-identifiers-q02", "text": "Who or what asserted this about an identifier for a leverage, by which method, and when was it true?", "kind": "provenance", "answer_data": [ "authority", "method", "evidence", "event time", "knowledge time" ] }, { "id": "stable-identifiers-q03", "text": "What may an agent decide or do once an identifier for a leverage is known, and what must it refuse?", "kind": "action", "answer_data": [ "permitted actions", "preconditions", "refusals", "escalation" ] } ] } ] }, { "id": "classification-and-granularity", "name": "Classification and granularity", "description": "Where a leverage sits among kinds, and how finely a task needs to cut it.", "findings": [ { "id": "kind-and-parents", "name": "Kind, parents and neighbouring kinds", "description": "The classes this thing belongs to and the ones it is next to.", "questions": [ { "id": "kind-and-parents-q01", "text": "What identifies and describes the kind of a leverage, and in what units or vocabulary?", "kind": "definition", "answer_data": [ "identifiers", "types and classes", "values with units", "explicit unknowns" ] }, { "id": "kind-and-parents-q02", "text": "Who or what asserted this about the kind of a leverage, by which method, and when was it true?", "kind": "provenance", "answer_data": [ "authority", "method", "evidence", "event time", "knowledge time" ] }, { "id": "kind-and-parents-q03", "text": "What may an agent decide or do once the kind of a leverage is known, and what must it refuse?", "kind": "action", "answer_data": [ "permitted actions", "preconditions", "refusals", "escalation" ] } ] }, { "id": "distinguishing-features", "name": "Distinguishing features", "description": "What separates a leverage from the things most often confused with it.", "questions": [ { "id": "distinguishing-features-q01", "text": "What identifies and describes what distinguishes a leverage, and in what units or vocabulary?", "kind": "definition", "answer_data": [ "identifiers", "types and classes", "values with units", "explicit unknowns" ] }, { "id": "distinguishing-features-q02", "text": "Who or what asserted this about what distinguishes a leverage, by which method, and when was it true?", "kind": "provenance", "answer_data": [ "authority", "method", "evidence", "event time", "knowledge time" ] }, { "id": "distinguishing-features-q03", "text": "What may an agent decide or do once what distinguishes a leverage is known, and what must it refuse?", "kind": "action", "answer_data": [ "permitted actions", "preconditions", "refusals", "escalation" ] } ] } ] } ] }, { "id": "state-and-lifecycle", "name": "State and lifecycle", "description": "The states a leverage passes through and the events that move it between them.", "rationale": "Most decisions about a thing depend on what state it is in now, which is a claim with a time on it, not a property.", "layers": [ { "id": "lifecycle-stages", "name": "Lifecycle stages", "description": "From coming into existence to ceasing to be one of these.", "findings": [ { "id": "stages-and-transitions", "name": "Stages and transitions", "description": "The stages worth naming and what moves a leverage between them.", "questions": [ { "id": "stages-and-transitions-q01", "text": "What identifies and describes the lifecycle of a leverage, and in what units or vocabulary?", "kind": "definition", "answer_data": [ "identifiers", "types and classes", "values with units", "explicit unknowns" ] }, { "id": "stages-and-transitions-q02", "text": "Who or what asserted this about the lifecycle of a leverage, by which method, and when was it true?", "kind": "provenance", "answer_data": [ "authority", "method", "evidence", "event time", "knowledge time" ] }, { "id": "stages-and-transitions-q03", "text": "What may an agent decide or do once the lifecycle of a leverage is known, and what must it refuse?", "kind": "action", "answer_data": [ "permitted actions", "preconditions", "refusals", "escalation" ] } ] } ] }, { "id": "observations-and-status", "name": "Observations and current status", "description": "What is observed about a leverage, how often and by whom.", "findings": [ { "id": "observation-record", "name": "Observation record", "description": "How an observation of a leverage is recorded so that it can be superseded rather than overwritten.", "questions": [ { "id": "observation-record-q01", "text": "What identifies and describes an observation of a leverage, and in what units or vocabulary?", "kind": "definition", "answer_data": [ "identifiers", "types and classes", "values with units", "explicit unknowns" ] }, { "id": "observation-record-q02", "text": "Who or what asserted this about an observation of a leverage, by which method, and when was it true?", "kind": "provenance", "answer_data": [ "authority", "method", "evidence", "event time", "knowledge time" ] }, { "id": "observation-record-q03", "text": "What may an agent decide or do once an observation of a leverage is known, and what must it refuse?", "kind": "action", "answer_data": [ "permitted actions", "preconditions", "refusals", "escalation" ] } ] } ] } ] }, { "id": "definitions-in-contest", "name": "Definitions and who holds them", "description": "What leverage is taken to mean, and by whom.", "rationale": "When a field disagrees about a concept, the disagreement is the content. A model that picks one definition silently destroys the information.", "layers": [ { "id": "competing-definitions", "name": "Competing definitions", "description": "The main readings and the traditions behind them.", "findings": [ { "id": "definition-map", "name": "Definitions and their holders", "description": "Each definition with the school or body that holds it.", "questions": [ { "id": "definition-map-q01", "text": "Which definitions of leverage are in use, and which tradition or body holds each?", "kind": "definition" }, { "id": "definition-map-q02", "text": "What turns on the difference between them in practice?", "kind": "boundary" } ] } ] }, { "id": "operationalisation", "name": "Operationalisation", "description": "How it is measured or applied when it has to be.", "findings": [ { "id": "operational-record", "name": "Measures and proxies", "description": "Instruments and indicators used to stand in for it.", "questions": [ { "id": "operational-record-q01", "text": "How is leverage operationalised or measured in practice, and by what instrument?", "kind": "measurement" }, { "id": "operational-record-q02", "text": "What does that operationalisation leave out, and when does that matter?", "kind": "boundary" } ] } ] } ] }, { "id": "instances-and-use", "name": "Instances, use and consequence", "description": "What counts as an instance of leverage and what follows from calling something that.", "rationale": "Applying a concept is an act with consequences, so a model must say what the label licenses and what it does not.", "layers": [ { "id": "instances", "name": "What counts as an instance", "description": "Clear cases, borderline cases and non-cases.", "findings": [ { "id": "instance-tests", "name": "Tests for an instance", "description": "What would settle whether something falls under it.", "questions": [ { "id": "instance-tests-q01", "text": "What would settle whether something is an instance of leverage?", "kind": "boundary" }, { "id": "instance-tests-q02", "text": "Which borderline cases are argued about, and on what grounds?", "kind": "definition" } ] } ] }, { "id": "consequence", "name": "Consequence of application", "description": "Rights, duties or decisions that follow from the label.", "findings": [ { "id": "consequence-record", "name": "What the label licenses", "description": "What an agent may do once something is classified this way.", "questions": [ { "id": "consequence-record-q01", "text": "What follows practically once something is treated as leverage?", "kind": "action" }, { "id": "consequence-record-q02", "text": "What must an agent not infer from the label alone?", "kind": "action" } ] } ] } ] }, { "id": "provenance-and-evidence", "name": "Provenance, evidence and time", "description": "Where every claim about a leverage came from and when it held.", "rationale": "A claim without a source and a time cannot be superseded, only overwritten, and an agent that overwrites loses the ability to explain itself.", "layers": [ { "id": "source-and-authority", "name": "Source and authority", "description": "Who said it, on what evidence, and how strongly.", "findings": [ { "id": "claim-provenance", "name": "Claim provenance and confidence", "description": "The authority behind each claim about a leverage and how confident it is.", "questions": [ { "id": "claim-provenance-q01", "text": "What identifies and describes a claim about a leverage, and in what units or vocabulary?", "kind": "definition", "answer_data": [ "identifiers", "types and classes", "values with units", "explicit unknowns" ] }, { "id": "claim-provenance-q02", "text": "Who or what asserted this about a claim about a leverage, by which method, and when was it true?", "kind": "provenance", "answer_data": [ "authority", "method", "evidence", "event time", "knowledge time" ] }, { "id": "claim-provenance-q03", "text": "What may an agent decide or do once a claim about a leverage is known, and what must it refuse?", "kind": "action", "answer_data": [ "permitted actions", "preconditions", "refusals", "escalation" ] } ] } ] }, { "id": "time-and-versions", "name": "Time, versions and supersession", "description": "When a claim was true, when it was learnt, and what replaced it.", "findings": [ { "id": "validity-and-supersession", "name": "Validity period and supersession", "description": "How an old claim about a leverage is retired without being erased.", "questions": [ { "id": "validity-and-supersession-q01", "text": "What identifies and describes the validity of a claim about a leverage, and in what units or vocabulary?", "kind": "definition", "answer_data": [ "identifiers", "types and classes", "values with units", "explicit unknowns" ] }, { "id": "validity-and-supersession-q02", "text": "Who or what asserted this about the validity of a claim about a leverage, by which method, and when was it true?", "kind": "provenance", "answer_data": [ "authority", "method", "evidence", "event time", "knowledge time" ] }, { "id": "validity-and-supersession-q03", "text": "What may an agent decide or do once the validity of a claim about a leverage is known, and what must it refuse?", "kind": "action", "answer_data": [ "permitted actions", "preconditions", "refusals", "escalation" ] } ] } ] } ] } ] }, "statistics": { "bundles": 5, "layers": 10, "findings": 12, "questions": 32 } } } }